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About this Publication:

The GRAP Handbook contains the consolidated Standards of Generally Recognised Accounting Practice (GRAP) and related material developed by the Accounting Standards Board (ASB). The ASB gives effect to the constitutional requirement that uniform standards should be developed to ensure the achievement of consistent and comparable financial information across all spheres of government.

The adoption of Standards of GRAP by all reporting entities in the public sector in South Africa improves the quality and comparability of financial information reported and enables those charged with governance to hold entities to account for the resources entrusted to them by citizens, taxpayers and ratepayers.

For information about the effective dates of the GRAP Standards refer to Directive 5 and visit the ASB website: www.asb.co.za. The 2018 edition will remain valid until 31 March 2019.

What's new in the 2018 issue?

This edition of the handbook incorporates changes made to the handbook since the 2016 edition. These changes include the following pronouncements issued by the ASB as at 1 April 2018.